Recap Consolidation at 50% range found support above Y-0 and sent this back up to Y+1. Closed the week near Y+1 and above midpoint.
Outlook Y+1 resistance points to potential bull flag on 4 hours until higher timeframes catch up with the trend change. Clearing B+1 quickly points to melt up play for Y+2 above.
Lawrence's Comment
Recap
Lifted higher to resistance before the test of Y-1, giving it enough fuel to break below Y-1 for 100% absolute range expansion before stopping. Closed the week at ...
Lawrence's Comment
Recap
Bottom was not retested. Instead we got a gap lower play and rallied since. Dow ran back up to Y-0 / gap area and stalled from the resistance zone ...
USDCAD May 16 to May 20 Outlook
Lawrence’s Comment
Consolidation at 50% range found support above Y-0 and sent this back up to Y+1. Closed the week near Y+1 and above midpoint.
Outlook
Y+1 resistance points to potential bull flag on 4 hours until higher timeframes catch up with the trend change. Clearing B+1 quickly points to melt up play for Y+2 above.
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